20:49 (GMT +7) - Monday 25/09/2017

Vietnam Today

Potential for capacity cooperation between Vietnam & China

Released at: 11:07, 14/09/2017

Potential for capacity cooperation between Vietnam & China

Mr. To Ngoc Son is speaking at the Vietnam-China Capacity Cooperation Conference on Sept. 13. Photo: Hai Van

Vietnam-China Capacity Cooperation Conference in Nanning on September 13 hears of potential.

by Hai Van

Vietnam and China have major potential for investment cooperation, Mr. To Ngoc Son, Deputy Director General of the Department of Asia and Africa Markets at the Ministry of Industry and Trade (MoIT), told the Vietnam-China Capacity Cooperation Conference in Nanning, China, on September 13.

He identified the conditions that boost cooperation between the two countries, including positive developments in economics, cultural similarities, and Vietnam being the largest trading partner of China in ASEAN and its ninth-largest partner in the world.

“The Vietnamese Government has changed the law, abolishing a series of administrative procedures to promote investment by foreign enterprises,” he emphasized.

He also touched on the potential for cooperation between Vietnam and China thanks to the latter’s population of 1.4 billion people and the official visit to be made by Xi Jinping to Vietnam in November, which will promote greater cooperation and drive bilateral relations forward.

China’s market has an important role to play in economic cooperation. Mr. Son also emphasized that there are opportunities available for enhancing economic, trade, and investment cooperation between the two sides in the process of development and the strong reform of the two economies.

Vietnamese and Chinese leaders have said that under the guidance of the two governments, cooperation in productive capacity has potential and important mechanisms will better support Chinese enterprises who have been investing and will invest in Vietnam.

They suggested that the initial identification of specific projects in production capacity should focus on promoting cooperation in the future through memoranda of understanding (MoU) signed in September 2016.

The “Vietnam-China Cooperation Conference” was held by the Department of Investment and Foreign Investment of the State Development and Reform Commission and the Development and Reform Commission of the Guangxi Zhuang Autonomous Region, with support from the Center for International Cooperation under the State Development and Reform Commission and Vietnam’s Department of Asian and African Markets.

The aim of conference was to create opportunities for links within the Vietnam-China Productivity Cooperation project.

It was also attended representative of the Departments of Industry and Trade of Bac Giang province and Dong Thap province as well as Vietnamese and Chinese enterprises.

The conference was a key activity within the 14th China-ASEAN Expo (CAEXPO) and part of cooperative efforts between China and Vietnam to expand fields of cooperation and secure practical results in the future.

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